ETH Edges Up 0.45% in 15 Minutes: EIP-8363 Inflation Model Proposal Drives a Low-Liquidity Rebound

From 22:00 to 22:15 UTC on August 9, 2026, ETH traded between 1,924.64 and 1,936.35 USDT, recovering 0.45% over the 15-minute period, with a 0.61% amplitude. The current price is $1,930.29, up approximately 0.50% over the past 24 hours. Overall, ETH has fluctuated within an extremely narrow range of 1,912.5–1,938.2, indicating low volatility. Market participation is extremely low, with candlestick trading volume at only 903 units. Order book depth is extremely shallow, with combined buy and sell volume below 16 units, reflecting marginal price movements driven by small amounts of capital amid scarce weekend liquidity.

The primary driver of this move is Ethereum’s EIP-8363 inflation model adjustment proposal. Disclosed by Galaxy Research, the proposal plans to gradually reduce ETH issuance until 100% of ETH is burned when the staking ratio approaches 50%. This would fundamentally change ETH’s supply economics, strengthen long-term deflationary expectations, and provide fundamental support for the price.

Second, an L2 chain launched on Arbitrum by a leading broker uses only ETH to pay gas fees and does not issue its own token. This expands the use cases for ETH as an L2 settlement layer and validates its value-capture potential. In addition, BTC ETFs attracted $853 million in inflows within one week. Overall, crypto market sentiment is positive, indirectly supporting ETH’s performance. Order book data shows a large buy wall of 8.50 units at $1,930.28, accounting for 63.9% of the total volume across the top five levels. The buy-to-sell depth ratio of 4.96 favors buyers, but total depth is extremely shallow, meaning that a single medium-sized trade could penetrate the order book.

Technical indicators remain neutral. The daily ADX is only 17.77, indicating no clear trend. The bullish bias in the one-hour moving averages is the only short-term bullish signal, but its strength is limited. Attention should be paid to the short-term resistance at $1,950 and the psychological level of $2,000, while $1,900 is the key support level. Going forward, monitor the recovery of trading volume on Monday, the persistence of the buy wall, and progress in the subsequent review of EIP-8363. Current volatility is extremely low, confidence in this attribution is medium to low, and additional market information should be monitored to validate the trend.